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Playinghardball

(11,665 posts)
Thu Jul 12, 2012, 02:19 PM Jul 2012

Unemployment claims fall to 4-year low

The July 4 holiday week provided a surprising boost to America’s job market as the number of Americans filing for first-time unemployment benefits fell to a four-year low.

About 350,000 people filed for initial jobless claims in the week ended July 7, down 26,000 from the previous week, according to the Bureau of Labor Statistics. The figure marks the lowest level of claims since March 2008. Economists had been expecting 375,000 claims last week.

The news comes after last week’s disappointing monthly non-farm payroll jobs report and at a time when the government jobs statistics have emerged as a key battleground for the 2012 election.

The US economy added just 80,000 new jobs in June, according to the latest non-farm report. The figure is well below the 100,000 that economists calculate the economy needs to stand still and less than half the 200,000-plus the jobs market was adding each month in the winter.

http://www.rawstory.com/rs/2012/07/12/unemployment-claims-fall-to-4-year-low/

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